Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Trip Cancellation Insurance and other Travel Insurance topics.
If you walked into a drugstore to buy a candy bar and it was $1000.00 bucks you'd be pretty suspicious. Just like if someone charged you 1 million dollars for a sub-standard used car. Everything has an inherent value that people expect to pay – even Travel Insurance. A good rule of thumb for travel/vacation cancellation insurance is you should pay between 5 –10% the cost of the trip. This is for a comprehensive policy. If a company tries to charge you a lot more than that, then it would probably be best to look elsewhere.